๐ฅ๐๐ ๐๐ฒ๐ฎ๐๐ฒ๐ ๐ฅ๐ฎ๐๐ฒ๐ ๐ผ๐ป ๐๐ผ๐น๐ฑ
Reserve Bank governor Michele Bullock announced that the board had decided to leave the cash rate at 4.35% โ and โremains resolute in its determination to return inflation to targetโ.
Governor Bullock said the board was committed to reducing inflation, currently 4.9%, to its target range of 2-3%, and would rely on future data to determine whether more cash rate rises were needed to achieve that goal.
โHigher interest rates are working to establish a more sustainable balance between aggregate supply and demand in the economy. The impact of the more recent rate rises, including last month's, will continue to flow through the economy. High inflation is weighing on peopleโs real incomes and household consumption growth is weak, as is dwelling investment. Holding the cash rate steady at this meeting will allow time to assess the impact of the increases in interest rates on demand, inflation and the labour market,โ she said.
Subiaco finance brokers are here to help
Interest rate rises are here, but you donโt have to fear with the right broker on your side.
The team at Sonam Capital are here to empower you through financial knowledge. Weโll take the time to get to know you and your unique situation and speak in a language you can understand, with strategies you can implement for the best possible outcomes.
Nick, Wayne and Amanda at Sonam Capital are your Subiaco finance specialists.
